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HondaMotor (HMC 37.01, +1.84) has climbed 5.2% to levels not seen since early 2014 after beating quarterly expectations and issuing strong guidance.

The automaker reported above-consensus third quarter earnings of JPY318.50 per share on a 13.0% year-over-year increase in revenue to JPY3.96 trillion, which was also ahead of estimates.

Honda's consolidated profit surged 237.8% year-over-year to JPY570.20 billion, which was mostly due to the impact of the Tax Cuts and Jobs Act in the United States.

The company's 13.0% revenue growth rate was fueled by higher sales in all business operations. Motorcycle sales in the Honda Group increased 7.7% year-over-year to 4.87 million while consolidated sales grew 15.7% year-over-year to 3.10 million. Automobile sales in the Honda Group rose 2.4% to 1.34 million while consolidated sales increased 0.8% to 932,000. Sales of power products in the Honda Group and on consolidated basis increased 1.8% to 1.20 million.

The growth in motorcycle unit sales was fueled by growth in India, Vietnam, and Thailand while automobile sales growth was fueled by increased sales of Avancier and CR-V in China and higher sales of Honda City in Thailand. Power product sales were fueled by higher sales of OEM engines used in construction equipment in Japan and higher sales of lawn mowers in Australia.

Operating margin improved to 7.2% from 5.9% one year ago.

Looking ahead, Honda expects that earnings for the fiscal year will hit JPY557.70 per share on revenue of JPY15.20 trillion, which is better than what the market expects.

Honda Motor (HMC 37.01, +1.84) has climbed 5.2% to levels not seen since early 2014 after beating quarterly expectations and issuing strong guidance.